State Street Corporation reports beneficial ownership of 3,101,236 shares of Cullen/Frost Bankers Inc common stock, representing 4.9% of the class as of 03/31/2026. The filing shows shared voting power of 436,670 shares and shared dispositive power of 3,100,836 shares held on behalf of multiple State Street affiliates.
Positive
None.
Negative
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Insights
State Street reports a 4.9% passive holding in Cullen/Frost as of 03/31/2026.
State Street Corporation's Schedule 13G lists 3,101,236 shares beneficially owned with shared voting power of 436,670 and shared dispositive power of 3,100,836, attributed to several State Street affiliates.
Because this is a Section 13 filing for passive investment, the disclosure signals institutional stake reporting rather than an active strategic move; subsequent filings would show any changes.
Key Figures
Beneficially owned:3,101,236 sharesPercent of class:4.9%Shared voting power:436,670 shares+2 more
5 metrics
Beneficially owned3,101,236 sharesreported as beneficially owned as of <date>03/31/2026</date>
Percent of class4.9%percent of common stock class
Shared voting power436,670 sharesshared power to vote per Schedule 13G
Shared dispositive power3,100,836 sharesshared power to dispose of shares per Schedule 13G
CUSIP229899109Cullen/Frost Bankers Inc common stock CUSIP
Key Terms
Schedule 13G, beneficially owned, shared dispositive power, shared voting power
4 terms
Schedule 13Gregulatory
"Item 1. (a) Name of issuer: CULLEN/FROST BANKERS INC"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared dispositive powerfinancial
"(iv) Shared power to dispose or to direct the disposition of: 3,100,836"
shared voting powerfinancial
"(ii) Shared power to vote or to direct the vote: 436,670"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
How many Cullen/Frost (CFR) shares does State Street report owning?
State Street reports beneficial ownership of 3,101,236 shares. The Schedule 13G lists this figure and shows it represents 4.9% of the class as of 03/31/2026.
Does State Street have voting control over CFR shares?
State Street reports shared voting power for 436,670 shares. The filing lists 0 shares with sole voting power and attributes voting and dispositive authorities to State Street affiliates.
Which State Street affiliates are identified in the filing?
The filing names affiliates including SSGA Funds Management, Inc., State Street Bank and Trust Company, and several global State Street advisory entities as holders or managers.
Is this Schedule 13G filing indicative of an activist stake?
No; the Schedule 13G classifies this as a passive institutional holding. The filing does not assert active control or solicitation and lists ownership under passive reporting headings.
What date does the ownership information reflect?
The ownership figures are reported with a reporting date of 03/31/2026 and the filing signature is dated 05/12/2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
CULLEN/FROST BANKERS INC
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
229899109
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
229899109
1
Names of Reporting Persons
STATE STREET CORPORATION
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MASSACHUSETTS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
436,670.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,100,836.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,101,236.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.9 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CULLEN/FROST BANKERS INC
(b)
Address of issuer's principal executive offices:
112 EAST PECAN STREET SUITE 125, SAN ANTONIO, TEXAS, 78205
Item 2.
(a)
Name of person filing:
STATE STREET CORPORATION;
(b)
Address or principal business office or, if none, residence:
ONE CONGRESS STREET, SUITE 1, BOSTON MA 02114, UNITED STATES
(c)
Citizenship:
MA
(d)
Title of class of securities:
COMMON STOCK
(e)
CUSIP Number(s):
229899109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
3101236.00
(b)
Percent of class:
4.9 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
436,670
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
3,100,836
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
NOT APPLICABLE
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
SSGA FUNDS MANAGEMENT, INC. (IA);STATE STREET BANK AND TRUST COMPANY (BK);STATE STREET GLOBAL ADVISORS EUROPE LIMITED (IA);STATE STREET GLOBAL ADVISORS LIMITED (IA);STATE STREET GLOBAL ADVISORS SINGAPORE LIMITED (IA);STATE STREET GLOBAL ADVISORS TRUST COMPANY (IA);STATE STREET GLOBAL ADVISORS, LTD. (IA);
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
NOT APPLICABLE
Item 9.
Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
NOT APPLICABLE
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
